Insurance

Luxembourg has been chosen by several major insurance companies as a base for selling insurance products to be marketed throughout Europe under the EU freedom of services provision.

The country has achieved its ambition to make insurance the third pillar of its financial sector, along with investment funds and banking. Following the successful development of the reinsurance captive sector from 1984, in December 1994 the government transposed into national law the third generation of EU Directives, positioning the country as the first true pan-European centre for insurance and the promoter of cross-border marketing of insurance products.

One of the advantages of Luxembourg is that lawmakers, decision-makers and regulators are all at close quarters and have traditionally enjoyed a relationship of mutual understanding with business. This leads to a rapid decision-making process as well as a stable and friendly business environment. Luxembourg insurance and reinsurance companies benefit from a sound legal and regulatory framework with the "Commissariat Aux Assurances" ("CAA") safeguarding the high quality of insurance/reinsurance operations through an efficient supervisory review and monitoring of the smooth running of their business.

What makes Luxembourg great?

• Founding member of the EU and strategically positioned at the heart of Europe
• Rated AAA by the three main rating agencies
• Responsive tax system
• A centre of R&D and innovation
• Hub for international talent - highly skilled, multilingual workforce
• Tailor-made international school system
• Safe country with a high quality of living
• Authorities committed to creating a business-friendly environment